Ex-Goldman boss Rajat Gupta won't testify in insider trading trial


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The Independent Online

Rajat Gupta will not take the stand in his own defence this week, as the former Goldman Sachs director's trial on insider dealing charges heads towards a conclusion.

His lawyers had previously said it was "highly likely" that Mr Gupta would testify in a bid to clear his name.

Mr Gupta was also a director of Procter & Gamble, having taken on non-executive directorships following a long and distinguished career as a management consultant at McKinsey & Co.

His trial follows last year's jailing of Raj Rajaratnam, founder of the Galleon hedge fund, who was convicted of illegal trading on information about profit warnings and fundraisings at Goldman, provided in telephone calls from Mr Gupta.

Mr Gupta's case is that he did not provide any secret information or profit from insider trading, and his lawyers will put character witnesses on the stand to try to persuade the jury of his integrity.

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